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SPCE

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has initiated operations at its new Delta spaceship ground testing facility in Southern California, featuring an 'Iron Bird' test rig for subsystem verification. This move marks a significant step in the development of the Delta Class spaceships, aiming to streamline production and enhance safety. The facility will test and validate various subsystems, including avionics and hydraulics, to expedite the Delta Class development. Virgin Galactic plans to increase the testing scope throughout the year, supporting a transition from prototype to production model and maintaining the 2026 commercial service launch timeline.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:57 pm

EMN

SEE

Eastman and Sealed Air have partnered to develop certified compostable protein trays, offering a sustainable alternative to traditional polystyrene trays. This collaboration highlights the commitment of both companies to sustainable innovation in packaging solutions.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:49 pm

LDWY

Lendway has appointed Elizabeth McShane as its new Chief Financial Officer. This strategic move could signal a strengthening of Lendway's financial leadership and potentially drive future financial strategies and growth.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:14 pm

NVAX

Novavax has responded to Shah Capital, stating it values shareholder input on its strategy and believes it has the right board to oversee the company's direction, according to a spokesperson cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:11 pm

MULN

Mullen Automotive, Inc. (NASDAQ: MULN), an electric vehicle manufacturer, announced the adoption of a limited duration stockholder rights plan, effective immediately and expiring on May 1, 2025. This Rights Plan aims to ensure fair and equal treatment of all stockholders, protect the company from control attempts without a premium, and is not a financing transaction. No new shares or convertible securities are being issued in connection with this plan.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:05 pm

LAZR

MOON

ROBT

Luminar Technologies, Inc. (NASDAQ:LAZR) is reducing its workforce by 20% and shifting towards an asset-light model to scale production, causing its stock to drop by as much as 13% on Monday. The restructuring includes a partnership with TPK Holding and aims to lower operating costs by $50 million-$65 million annually. Despite shipping lidar sensors to Volvo and a deeper partnership with TPK Holding, a BofA Securities analyst downgraded the stock due to weaker EV demand and a potential need to raise $1 billion in capital. LAZR stock has lost over 74% in the last 12 months. Investors can also gain exposure to LAZR through Direxion Moonshot Innovators ETF (NYSE:MOON) and First Trust Nasdaq Artificial Intelligence And Robotics ETF (NASDAQ:ROBT).

Portfolio Pulse from Anusuya Lahiri

May 06, 2024 | 12:40 pm

SVMH

SRIVARU Holding Limited (NASDAQ: SVMH, SVMHW) announced the completion of its PRANA 2.0 electric motorcycle's production model, following successful internal testing. The model, which boasts a 20% longer driving range of up to 250km on a single charge, has been submitted for final certification. The company has also established a complete supply network for the PRANA 2.0's production. CEO Mohanraj Ramasamy highlighted the milestone's significance and the company's focus on precision engineering, quality control, and strong strategic partnerships.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:39 pm

AIM

AIM ImmunoTech Inc. has successfully completed the cGMP manufacturing of 9,042 clinical vials of Ampligen, a product candidate for cancers, viral diseases, and immune disorders. This milestone is part of AIM's development and commercial strategy, with Ampligen being evaluated in various clinical trials for solid tumor treatments. The company emphasizes the importance of this achievement in seeking commercial partners and preparing for ongoing and upcoming trials.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:38 pm

BIOR

Biora Therapeutics, Inc. (NASDAQ:BIOR) announced it will present clinical data on the NaviCap Targeted Oral Delivery Platform at Digestive Disease Week 2024. The presentation will include results from device function studies in healthy volunteers and patients with Ulcerative Colitis (UC), taking place on May 19, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:18 pm

BIGC

BigCommerce (NASDAQ:BIGC) has appointed Travis Hess, a former Accenture ecommerce leader, as its new president to drive top-line growth and profitability. Hess brings extensive experience from the ecommerce and technology industry, having held senior leadership positions and served on partner advisory boards for major platforms like Shopify and SAP/Hybris. Additionally, BigCommerce has strengthened its sales team by hiring Thom Armstrong as vice president of Americas enterprise sales, who brings nearly two decades of experience in commerce, content, and payments technology.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:13 pm